Etsy Inc (NASDAQ:ETSY) Receives $67.13 Average Target Price from Analysts

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Shares of Etsy Inc (NASDAQ:ETSY) have been assigned an average rating of “Buy” from the twenty-one research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $67.13.

A number of research firms recently weighed in on ETSY. DA Davidson reissued a “buy” rating on shares of Etsy in a research report on Monday, August 5th. KeyCorp reissued an “overweight” rating and set a $78.00 target price (down from $90.00) on shares of Etsy in a research report on Thursday, October 31st. Needham & Company LLC decreased their target price on Etsy from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. BTIG Research upgraded shares of Etsy from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Thursday, July 25th. Finally, Morgan Stanley cut their price target on shares of Etsy from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st.

In other news, CTO Michael T. Fisher sold 5,194 shares of Etsy stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $50.00, for a total value of $259,700.00. Following the completion of the transaction, the chief technology officer now owns 17,387 shares in the company, valued at $869,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Michael T. Fisher sold 5,208 shares of Etsy stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $56.32, for a total transaction of $293,314.56. Following the completion of the transaction, the chief technology officer now owns 24,168 shares of the company’s stock, valued at approximately $1,361,141.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,460 shares of company stock valued at $928,789. Corporate insiders own 3.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Cetera Advisors LLC raised its position in Etsy by 14.0% in the 3rd quarter. Cetera Advisors LLC now owns 4,900 shares of the specialty retailer’s stock worth $277,000 after purchasing an additional 600 shares during the last quarter. Northwestern Mutual Investment Management Company LLC bought a new position in Etsy in the 3rd quarter worth approximately $1,941,000. BBVA USA Bancshares Inc. bought a new position in Etsy in the 3rd quarter worth approximately $686,000. Mason Street Advisors LLC bought a new position in Etsy in the 3rd quarter worth approximately $3,569,000. Finally, Tower Research Capital LLC TRC raised its position in Etsy by 384.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 847 shares of the specialty retailer’s stock worth $48,000 after purchasing an additional 672 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Shares of NASDAQ:ETSY traded up $0.13 during midday trading on Thursday, hitting $41.99. 3,333,500 shares of the stock were exchanged, compared to its average volume of 2,976,572. Etsy has a 52-week low of $41.42 and a 52-week high of $73.35. The company has a market capitalization of $5.12 billion, a PE ratio of 68.84, a P/E/G ratio of 3.15 and a beta of 0.97. The business’s fifty day simple moving average is $54.93 and its two-hundred day simple moving average is $59.94. The company has a debt-to-equity ratio of 2.14, a quick ratio of 6.11 and a current ratio of 6.11.

Etsy (NASDAQ:ETSY) last released its earnings results on Wednesday, October 30th. The specialty retailer reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. Etsy had a return on equity of 25.62% and a net margin of 14.14%. The business had revenue of $197.95 million for the quarter, compared to the consensus estimate of $193.31 million. During the same period last year, the business earned $0.15 earnings per share. The firm’s revenue for the quarter was up 31.6% compared to the same quarter last year. As a group, equities analysts anticipate that Etsy will post 0.67 EPS for the current year.

About Etsy

Etsy, Inc operates Etsy.com, a commerce platform to make, sell, and buy goods online and offline primarily in the United States, United Kingdom, Canada, Australia, France, and Germany. It provides various seller services and tools that are designed to help entrepreneurs for starting, managing, and scaling their businesses.

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Analyst Recommendations for Etsy (NASDAQ:ETSY)

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